Monday, May 16, 2011

Intraday Nifty Stock

SENSEX (Close - 18531.30)
Sensex inched higher on states election result but it has seen some violent profit taking from higher levels in last one hour of trade. Now one must forget the political development and focus on what we got on this weekend, one massive price hike in petrol of rs5. We must be ready for this kind of hike in Diesel price too very soon. It is very clear that we will see another rise in inflation, which in turn will cause another rake in bank too too very soon. 

This makes the over all situation worse for equity. As I am repeating from past few trading session, one must focus on 18270 support levels. Any break below 18270 will cause another panic selling. Am I expecting this? Yes, I am. I will not prefer to trade long till it crosses above 18750 levels. We will see sell off in rate sensitive stocks again. 

NIFTY STOCK (Close - 5544.75)
Nifty has saved 5440 levels, back by state election result but we are too far from its intraday high. As we have seen close below 5550 we will the fall rejoining. Technically 5600 will be a resistance and last crucial support will be at 5470 to 5440 levels. 

RELIANCE (Close - 948.00)
One must note that till now it has saved 940 levels, which is a good support, but knocking this support frequently is not a good sign. If it breaks 940 then it can go towards 900 - 890 levels. Let us see, if trades sustain below 940 then just short, brutally short. DO not forget that it has slipped on Friday too. 

MARUTI (Close - 1222.45)
Auto stocks should be down after petrol price hike. Technically if this stock sustain below 1215 then we will go to hit 1180 levels very soon. I am suggesting to trade on short side on any revival. Expect panic selling if breaks 1200.

AXISBANK (Close - 1244.70)
This stock has a wide range of 1200 to 1260. It has saved 1200 marks on Friday. Well, this stock is still weak. Trade short with stop loss above 1252 levels. In the lower side it should hit 1200 in shorter than expected time. 

BSE index: (18531) Consider for this week...18502 a nearest & 18336 a crucial support, keep stop loss of 18271 to your buys.

Upward side 18802 a crucial resistance up to which selling on higher levels will be seen. Crossover above 18802 it'll surge up to 18910-19015 & 19170, sell on higher levels keeping stop loss of 19254.

Downward side break below 18271 it'll fall down to 18141 initially. A close below 18141 it'll crash down to 18006, 17836 & 17625-17562.

Intraday Nifty Stock For MAY Future: (5559) Consider for this week...5623-5633 a crucial resistance up to which selling on higher levels to continue. Crossover above 5633 it'll surge up further to 5665-5684, 5703-5720 & 5762, sell on higher levels keeping stop loss of 5790.

Downward side 5544 & 5485-5465 crucial supports, keep stop loss of 5435 to your buys. A close below 5435 it'll heavily crash down to 5367, 5307, 5269 & 5210.

SBI: (2650) Break below 2602 it'll fall down to 2548, 2515 & 2462. Upward side 2689 & 2720 solid resistance, keep stop loss of 2740 to your shorts.

HDFC Bank: (2255) Break below 2221 it'll heavily crash down to 2159, 2122 & 2060. Upward side 2290 & 2320 solid resistances.

AXIS Bank: (1245) Crossover above 1268 it'll surge up to 1286, 1312 & 1353. Downward side 1233-1227 crucial supports, keep stop loss of 1201 to your buys. A close below 1201 it'll crash down to 1160 & 1134.

MARUTI: (1225) 1235 & 1248-1258 solid resistances up to which selling on higher levels to continue, keep stop loss of 1278 to your shorts. It'll fall down to 1174 & 1137.

TISCO: (594) A close below 583 it'll heavily fall down to 570 & 548.

BHEL: (2032) 2054 & 2078 crucial resistances. Crossover above 2078 it'll surge up to 2165. Downward side 1995 a most crucial support closing below which it'll crash down to 1976 & 1945.

L&T: (1528) Buy considering 1520 a solid support keeping stop loss of 1491. Upward side crossover above 1568 it'll surge up to 1606 & 1664.
Downward side a close below 1491 it'll crash down to 1445 & 1417.

BPCL: (659) Crossover above 670 it'll spurt up to 691, 703 & 723. Buy considering 650 a solid support keeping stop loss of 637.

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